What is the designated code for sheriff sales?

The designated code for sheriff sales is NU-12. This specific coding is used within the context of property tax assessments and real estate transactions in New Jersey. Sheriff sales typically occur when properties are foreclosed upon and sold to recover debts, making the proper classification and coding important for record-keeping and transparency in public records.

When property is designated with the NU-12 code, it signifies to assessors, tax collectors, and other stakeholders that the property has undergone a sheriff sale process. This allows for accurate tracking and management of properties that may have changed ownership due to foreclosure, ensuring that all parties involved can maintain proper documentation and valuation assessments.

Choosing another code, such as NU-10, NU-11, or NU-13, would not correctly correspond to sheriff sales, as each of those may pertain to different types of property transactions or classifications. Therefore, understanding the significance and application of the NU-12 code is crucial for tax assessors and related professionals to effectively manage and evaluate properties in their jurisdiction.